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Partners Life announces changes to COVID amendments, and more daily news

Partners Life has announced that the temporary amendments to Premium Holidays and Policy Suspensions will be reverted back. Below are examples of when customers are eligible for Premium Holidays and Policy Suspensions.

“On the 17th August 2021, we extended our financial assistance offering to assist clients who may have been financially impacted as a result of

COVID-19 restrictions, so that they could have the best chance of retaining their valuable cover in the longer term.

With the country having moved into the ‘Traffic Light’ settings of the COVID-19 Protection Framework and with Level 4 Lockdowns behind us, we feel the time is right to revert to the original criteria for Premium Holiday claims and Policy Suspension claims, as documented in the policy wordings.

For your reference, below is a brief summary of when your client may qualify for a Premium Holiday claim.

If the Life Assured undergoes any of the following:

Redundancy; or Bankruptcy; or Leaving paid employment to become a full-time caregiver to a spouse, de facto partner or Civil Union partner who for the first time requires such care as a result of an illness or injury; or Leaving paid employment to become a full-time caregiver to a Dependent Child who for the first time requires such care as a result of an illness or injury; or Death of a spouse, partner or child; or Natural Disaster where the event affects a life assured’s ability to undertake their usual work and where interruption is likely to last more than thirty days; or Any other event Partners Life agrees to, at its sole discretion

For Policy Suspension claims only:

Employer approved leave without pay; or Employer approved parental leave; or Overseas travel; or Tertiary Education”

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